The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1887-01-13
y EEGCILING PROSPERITY.
tFron. the News and Courier.


1t is exceedingly gratifying, Of course,
to read the statement made by the Bulti.
more Manufacturers Record in evidence
of the wonderful development of manu-.
featuring i'll the South during the past
year. The total increase Of Investments
In all kinds Of enterprises in the South
crn States during 1886 is shown to be
nearly $G3, ,0O0, 900, and it is claimed
with truth, upon the basis Of these
figures, that the year which is now
closing has been the most rcmarlabl in
many respects in the history of the
South.
1t will not escape attention, hoTever,
that the development of iron m;nnltac-
tures is credited with the employment
of the bulk Of the new capital, about
$50, 600, 600 of the total increased invest
mcnt being divided among the three
States of Virginia, Tennessee a2d Ala
bama, while decided falling of is
shown in the States Of West Virginia
and Florida. Arkansas, Louisiana, Mis-
sissippi and North Carolina barely hold
! their own. There is much ground for
qualification in view of the DEVELOPMENT
of the iron industry in the States where
it has taken such hold, but it would be
far, far better for the South if the dcycl-
Opmcnt were more general and more
equally distributed. The impetus given
to the iron business, it is conceded,
comes from without. and the profits
from that business will largely 20 out OF
the South. While good deal of money
has doubtless been made by AlabamianS
and Tcnncssccans, for instance, in dis
! posing OF their lands, the bulk Of the
| 70 Lad, l,I,
bought up the lands in large blocks and
at nominal prices. The control of the
lands moreover, has passed forever out
of the hands of the people who live Oh
them, and the enterprises which have
been founded by small home capitalists
in the mineral districts are rapidly pass
ing into the possession of outsiders, as
has been reported in several conspicuous
instances.
Another and certain result Of the great
rapidity with which the production of
iron in the South is increasing is that
the production of the same metal III the
North must be cheapcncd enormously,
olizc the iron industry. 1t is too much
to expect that the iron manufacturers Of
Pennsylvania, for instance, will consent
w liufC tiASlL DplCNl III ClJllCI
way. 1t is probable, therefore, that
these will soon come forward and ask
for lower duties on coal to enable them
to compete successfully with the South
crn districts; and, when the demand is
made, the Randallitc8 and other Pro
tcctionists will hesitate no longer about
striking any sort of blow at the Alabama
and Tennessee coal and iron mines and
iron manufactures than they would
hes't"to now to destroy the sugar in
dusty OF Louisiana, if the votes of the
Loui lana Representatives were not
court ID by their selfish allies.
The very prosperity Of the iron in.
dustry at the South, in short, is fatal to
its continuance. unless it passes into the
hands Of Northern owners, and the new,
ly converted Protectionists in the South
crn irOn-producing States will find in
the end that they have sold out the true
interest of the South and of the country
for prize that will crumblc in then
hands, or pass into the hands Of non.
residents as soon as it becomes worth
the taking